According to Finance Minister Ken Ofori-Atta, some agreement has been made between the government and fund managers about the inclusion of pension funds in the Domestic Debt Exchange programme.
He emphasised that the move is part of the Program’s renewed negotiations, which would enhance macroeconomic stability and the creation of budgetary flexibility.
“How do we open up our space and thinking so that other instruments can be created that will be safer for you into the future? I think that that’s the discussion that we have had since last year and I think that we’re coming to some closure that will be beneficial to both parties”
Ken Ofori-Atta was speaking in an exclusive interview on GBC’s current affairs show, Talking Point, about the midyear budget review. He expressed confidence that by the end of September this year, some resolution to the debate will be reached.
“I’m excited about the dialogue that we have had over the period, the understanding of what is mutually beneficial and sustainable for the economy and I believe that by the end of September, we should be able to have a system that is more robust looking into the future that also supports an alternative offer that will be agreeable.”
Mr. Ofori-Atta intimated that arrears owed to trainees on the Nation’s Builders Corps Programme NABCO and Colleges of Education Teachers Association, Ghana (CETAG) have been planned for payment.
He stated that payments are made in a systematic manner.
“Yes we do have arrears with NABCO and other areas that we have programmed to be able to pay over a certain period. If you look at school feeding, for example, I think that is all paid through this past semester, so we are tackling it in a rather organized way to get there.
In response to calls for his resignation from some members of the public, particularly lawmakers, he stated that the era during which the calls were made was challenging, which caused people to express diverse perspectives. He has an obligation to serve, and his focus will remain on turning the economy’s fortunes.
“In a democracy, I think that is warranted, those were difficult periods and I think that everybody had truly expressed what they wanted. But more importantly, you were in a situation and given the urgency of ensuring that the IMF programme gets through so that we can build confidence. We all needed to rethink what we wanted, and for me it was a duty to serve, there is no running away from it.”
Mr. Ofori-Atta stated that the government has invested heavily in the Ghana Enterprises Agency in order to provide grants to Ghanaian enterprises.